Skepticism took control of oil prices as negotiations soured to end the fighting between Russia and Ukraine on Wednesday.
Prices also rose upon the release of U.S. government data showing a weekly drop in crude inventories.
West Texas Intermediate crude for May delivery rose $3.58 or 3.4% to close at $107.82 a barrel on the New York Mercantile Exchange. It had posted a 1.6% loss on Tuesday.
Global benchmark Brent crude for May delivery went up 2.9% or $3.22 to settle at $113.45 a barrel on ICE Futures Europe following a 2% loss in Tuesday’s trading.
May natural gas rose 5.2% to $5.604 per million British thermal units.
The increased oil prices had a mixed impact on Oklahoma energy stocks. PHX Minerals rose nearly 4% and Cypress Environmental Partners went up 3% while Mammoth Energy lost 3% and SandRidge Energy dropped more than 2%.
Apache (APA) up 0.24 at 41.20 – change 0.58%
Cheniere (LNG) up 2.69 at 141.28 – change 1.94%
Chevron (CVX) up 1.15 at 165.48 – change 0.70%
ConocoPhillips (COP) up 0.71 at 101.10 – change 0.77%
Diamondback Energy (FANG) up 0.42 at 139.15 – change 0.30%
Energy Transfer LP (ET) up 0.48 at 11.53 – change 4.34%
Enterprise Products Partners (EPD) up 0.30 at 26.07 – change 1.16%
EOG Resources (EOG) up 0.46 at 121.09 – change 0.38%
ExxonMobil (XOM) up 1.41 at 83.78 – change 1.71%
Kinder Morgan (KMI) up 0.20 at 19.09 – change 1.05%
Marathon Oil Corp. (MRO) up 0.50 at 25.50 – change 2.00%
National Oilwell Varco (NOV) up 0.18 at 19.84 – change 0.91%
Occidental Petroleum (OXY) up 0.69 at 57.48 – change 1.21%
Phillips 66 (PSX) up 3.97 at 87.44 – change 4.75%
Pioneer Natural Resources (PXD) up 4.51 at 257.93 – change 1.78%
Tellurian Inc. (TELL) up 0.32 at 5.44 – change 6.25%
Valero (VLO) up 3.82 at 100.50 – change 3.95%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.73 at 99.42 – change 0.73%
CenterPoint (CNP) down 0.02 at 30.78 – change 0.07%
Entergy (ETR) up 0.67 at 117.04 – change 0.57%